There’s nothing that says you’ve made it in life more than making the decision to buy a private jet. Getting to fly where you want to go, when you want to go, without having to rub elbows with the general public is a true luxury.
If you think you’re in the right financial position to buy a private jet, you might be wondering about how much they cost. There are a lot of factors that go into making an informed purchase! Read on to learn everything you need to take into consideration.
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The Cost to Buy a Private Jet
There is no straightforward answer to this question because there are so many options available on the market.
If you’re looking to buy a private jet that can fly up to 20 people, then you need to have a healthy budget. On average, heavy jets run between $25 and $50 million dollars. The most expensive private jets will easily put a $100 million dent in your wallet.
Midsize jets seat around 10 people and run anywhere from $3 million to $20 million. Finally, if you only need seating for about five people, you can buy a private jet for $2 to $8 million.
Annual Expenses
The truth about buying a private jet is that it isn’t just a one-and-done purchase. There’s also the cost to store the plane, maintenance expenses, and the cost of hiring a flight crew. You’ll also want to make sure that your pilot is experienced and well-versed in FAA regulations.
Between the short lifespan of a private jet, and the annual expenses associated with flying them, even smaller jets can be cost-prohibitive to own for a lot of the world’s wealthiest people. You need to take the time to figure out how much you’re actually going to be using the jet in order to make it an economical purchase.
What About Chartering a Private Jet?
If you’re not sure to buy a private jet is for you, you can still fly privately. Instead of buying a jet, you can charter one!
A short flight in a private jet will only set you back around $5,000. If you’re wanting to book a trip for all of your friends and family to a far-off destination, then expect to pay around $150,000 for the privilege.
Expensive, yes, but not nearly as expensive as buying one for your exclusive use! Plus, chartering a private jet can help you get a feel for the types of planes you like and prepare you for an eventual purchase.
Are You Ready to Fly the Friendly Skies in Luxury?
There are a ton of options for wealthy individuals and business owners when it comes to private aircraft. When you make the decision to buy a private jet, you need to do your research in order to get one that is cost-effective and the right size for your travel needs. It might just be better to opt for chartered planes if you don’t plan on traveling enough to make the purchase worthwhile.
If you’re thinking about buying your own private jet, then you’re probably trying to come up with more ways to make your life more luxurious. We’ve got you covered in that department. Check out the rest of our blog for tons of content about living the luxe life.
